Slide 1: First Quarter 2023 Earnings Call
First Quarter 2023 Earnings Call April 25, 2023
Slide 2: Forward Looking Statements and Non-GAAP Measures
Forward Looking Statements and Non-GAAP Measures Forward Looking Statements Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements about expectations regarding our financial re
Slide 3: Key Messages
Key Messages 1 Strong start to 2023 2 Continued traction on price driving favorable Price | Cost | Productivity 3 Capacity investments ramping effectively to meet strong Utility T&D demand 4 Raising 2023 outlook 3
Slide 4: Recent Accomplishments
Recent Accomplishments CUSTOMER ESG INNOVATION Hubbell Power Systems + Burndy awarded Continued demonstration of commitment to NPX initiatives awarded Product of the Year Supplier of the Year by 2 large distributors ethics and sustainability by major industry trade publication Differentiate on qua
Slide 5: 1Q 2023 Results
1Q 2023 Results $1.29B Double digit organic growth driven by strong price realization and volumes Sales Continued demand strength and backlog build in Utility Solutions (Organic +10%) 20.7% Significant margin expansion driven by favorable Price | Cost | Productivity Adj. OP Margin Factory pr
Slide 6: 1Q 2023 Results
1Q 2023 Results NET SALES ADJUSTED OPERATING PROFIT $ millions +11% $ millions +66% 1,285 267 1,156 20.7% 160 13.9% 1Q 2022 1Q 2023 1Q 2022 1Q 2023 ADJUSTED DILUTED EPS FREE CASH FLOW $ per share +70% $ millions 80 $3.61 $2.12 -36 1Q 2022 1Q 2023 1Q 2022 1Q 2023 Strong operating leverage on double d
Slide 7: 1Q 2023 Hubbell Utility Solutions (HUS) Segment Results
1Q 2023 Hubbell Utility Solutions (HUS) Segment Results UTILITY SOLUTIONS NET SALES UTILITY SOLUTIONS ADJ. OPERATING PROFIT $ millions $ millions +20% +87% 782 191 652 24.4% 102 15.7% 1Q 2022 1Q 2023 1Q 2022 1Q 2023 Organic +19%; M&A +1% T&D Components +25% Price | Material positive Grid mod
Slide 8: HUS Backlog Update
HUS Backlog Update HUS (ex-Aclara) Backlog Trend IMPLICATIONS Historically a “book and ship” business Acceleration in orders driven by both secular trends and tight supply chains Service levels are critical differentiator amid strong demand and tight supply Capacity investments and strong ex
Slide 9: 1Q 2023 Hubbell Electrical Solutions (HES) Segment Results
1Q 2023 Hubbell Electrical Solutions (HES) Segment Results ELECTRICAL SOLUTIONS NET SALES ELECTRICAL SOLUTIONS ADJ. OPERATING PROFIT $ millions 0% $ millions +30% 504 504 76 15.0% 58 11.6% 1Q 2022 1Q 2023 1Q 2022 1Q 2023 Organic -3%; Acquisitions +3% Price | Material positive Broad-based growt
Slide 10: HES Growth Spotlight: Renewables Vertical
HES Growth Spotlight: Renewables Vertical HIGHLIGHTS ACCELERATING GROWTH THROUGH INNOVATION INVESTMENT Investing in vertical market salesforce as part of HES segment unification strategy Insulation Piercing First of its kind irreversible connector drives significant Industry leading depth and br
Slide 11: Raising 2023 Outlook
Raising 2023 Outlook WHAT HAS WHAT IS WHAT IS STILL IMPROVED THE SAME UNCERTAIN Incremental price actions sticking Continued HUS market strength Macroeconomic environment Capacity investments ramping HES markets trending as expected Channel inventory levels Productivity improving Non
Slide 12: Appendix
Appendix HUBBELL
Slide 13: Appendix
Appendix References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. believes these adjusted operating measures provide useful informatio
Slide 14: Appendix
Appendix Reconciliation of Adjusted Net Income From Continuing Operations to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended March 31, 2023 2022 Change Net income from continuing operations attributable to Hubbell (GAAP measure) $ 181.9 $ 102.5 77 % Amor
Slide 15: Appendix
Appendix Reconciliation of Adjusted Operating Margin to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended March 31, 2023 2022 Change Net Sales [a] $ 1,285.4 $ 1,156.1 11 % Operating Income GAAP measure [b] $ 248.8 $ 142.9 74 % Amortization of acquisition-r
Slide 16: Appendix
Appendix Reconciliation of Organic Net Sales Growth to Net Sales Growth (millions and percentage): Hubbell Incorporated Three Months Ended March 31, 2023 Inc/(Dec)% 2022 Inc/(Dec)% Net sales growth (GAAP measure) $ 129.3 11.2 $ 199.8 20.9 Impact of acquisitions 20.7 1.8 — — Impact of divestitures —
Slide 17: Appendix
Appendix Reconciliation of Net Debt to the most directly comparable GAAP measure (millions): Hubbell Incorporated March 31, 2023 December 31, 2022 Total Debt (GAAP measure) $ 1,443.2 $ 1,442.6 Total Hubbell Shareholders’ Equity 2,472.7 2,360.9 Total Capital $ 3,915.9 $ 3,803.5 Total Debt to Total Ca